Singapore Airlines has just recently updated their new redemption charts to include Premium Economy redemption - read more about the changes here! If you are looking for more ways to earn KrisFlyer Miles, check out the guide to the co-branded American Express cards here! The national carrier of Singapore has just announced that KrisFlyer members will now be able to use their hard earned miles for shopping on KrisShop - read on to find out why you should most definitely NOT do this.
Firstly, KrisFlyer miles are sacred (to us mile chasers) and extremely valuable - if you use them correctly, you can easily get over S$50 value for every 1,000 miles - this is why I strongly advocate choosing miles over some pesky cash rebate. In fact, you should also consider buying miles by paying for the annual fees of credit cards if you intend to travel in a premium class often.
Secondly, your KrisFlyer miles are worth almost nothing on KrisShop. Sure, getting a brand new Samsonite Spinner Luggage seems like a great idea but honestly, do you want to exchange 87,500 KrisFlyer Miles for a S$700 luggage bag - you are only getting S$8 value per 1,000 KrisFlyer mile. KrisShop is running a 10% off required miles until 15 June 2016 but even then, you are only getting S$8.89 value per 1,000 miles (compare that to over S$50 on a premium cabin redemption)! To put things into perspective, it will only cost you 68,000 KrisFlyer Miles and approximately S$68 in taxes to redeem for a Return Business Class Flight to Japan from Singapore on Singapore Airlines.
Seriously, save your miles for something else.